Packaged foods maker Campbell Soup Company ( CPB ) on Tuesday posted mixed fiscal first quarter earnings results and provided an in-line full-year outlook.
The Camden, NJ-based company reported fiscal first net income of $245 million, or 78 cents per share, compared with $265 million, or 82 cents per share, in the year-ago period. Excluding one-time items, adjusted profit was 88 cents per share.
Revenue rose 8% from last year to $2.34 billion.
On average, Wall Street analysts expected a smaller profit of 84 cents per share, albeit on slightly higher revenue of $2.36 billion.
Looking ahead, CPB forecast full-year fiscal 2013 earnings to range from $2.51 to $2.57 per share, which straddles analysts' estimate of $2.54 per share for the year.
Campbell Soup rose 66 cents, or +1.8%, in premarket trading Tuesday.
The Bottom Line
Shares of Campbell Soup ( CPB ) have a 3.14% dividend yield, based on last night's closing stock price of $36.95. The stock has technical support in the $33-$34 price area. If the shares can firm up, we see overhead resistance around the $40-$41 price levels.
Campbell Soup Company ( CPB ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
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